MITCHELL, SD (Mitchell Now) — Mitchell is getting $1 million from an economic development fund controlled by the governor to help with a new business park south of Interstate 90.
The money comes from the Future Fund, which redirects revenue collected from businesses for unemployment insurance. It was created by the legislature in 1987. Rhoden’s move to include the Mitchell project for support follows $1 million committed by the federal government through the U.S. Department of Agriculture Rural Economic Development Loan program and another $1 million pledged from local sources.
Rhoden says, “This investment will ensure Mitchell has development-ready sites that will attract new businesses, create quality jobs, and support long-term economic growth.” The state money will go towards installing utilities to make the site development ready.
The Mitchell Area Chamber of Commerce will be required to update the state on the steps it is taking to build out the infrastructure and market the space to prospective businesses.
CEO Mike Lauritsen says the area is ready for the challenge. He notes, “Mitchell has demonstrated a strong commitment to economic growth by investing alongside the state.”
Lauritsen adds, “This partnership will help ensure our community has shovel-ready sites available to compete for future business expansion and relocation projects.”